Prudential Financial Inc. Sells 5,129 Shares of LyondellBasell Industries (NYSE:LYB)

Prudential Financial Inc. trimmed its position in shares of LyondellBasell Industries (NYSE:LYB) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 155,957 shares of the specialty chemicals company’s stock after selling 5,129 shares during the period. Prudential Financial Inc.’s holdings in LyondellBasell Industries were worth $11,583,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Amundi grew its holdings in LyondellBasell Industries by 48.6% in the 4th quarter. Amundi now owns 3,858,033 shares of the specialty chemicals company’s stock valued at $283,452,000 after buying an additional 1,260,913 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of LyondellBasell Industries in the fourth quarter valued at approximately $69,115,000. Jacobs Levy Equity Management Inc. grew its stake in shares of LyondellBasell Industries by 211.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,283,163 shares of the specialty chemicals company’s stock worth $123,055,000 after acquiring an additional 871,708 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in LyondellBasell Industries by 7.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,582,119 shares of the specialty chemicals company’s stock worth $637,394,000 after acquiring an additional 558,137 shares during the period. Finally, Franklin Resources Inc. raised its stake in LyondellBasell Industries by 11.4% during the 3rd quarter. Franklin Resources Inc. now owns 2,875,267 shares of the specialty chemicals company’s stock valued at $268,664,000 after purchasing an additional 293,622 shares during the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Royal Bank of Canada boosted their price objective on shares of LyondellBasell Industries from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. cut their price target on LyondellBasell Industries from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. The Goldman Sachs Group decreased their price objective on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a report on Thursday, December 12th. StockNews.com lowered LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Finally, Piper Sandler decreased their price target on shares of LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $88.25.

LyondellBasell Industries Stock Performance

NYSE:LYB opened at $69.81 on Friday. The stock has a market capitalization of $22.58 billion, a P/E ratio of 16.86, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. LyondellBasell Industries has a 1 year low of $69.74 and a 1 year high of $107.02. The firm has a 50 day moving average of $75.58 and a 200-day moving average of $81.28. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, January 31st. The specialty chemicals company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.53). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. During the same period last year, the business posted $1.26 earnings per share. As a group, sell-side analysts anticipate that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a $1.34 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.36 dividend on an annualized basis and a yield of 7.68%. LyondellBasell Industries’s payout ratio is 129.47%.

Insiders Place Their Bets

In related news, Director Michael Sean Hanley bought 3,750 shares of LyondellBasell Industries stock in a transaction on Wednesday, March 12th. The shares were purchased at an average price of $72.05 per share, for a total transaction of $270,187.50. Following the completion of the acquisition, the director now owns 16,028 shares in the company, valued at approximately $1,154,817.40. This represents a 30.54 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.11% of the company’s stock.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.